Trump vs Melania Coin

The madness and chaos continues in the crypto market, especially the meme coins category.

After the US President launched a meme coin bearing his name, which witnessed a market value of $ 15 billion, thus beating the PEPE and SHIB coins, leaving only DOGE ahead of it.

However, the price of the “Trump” coin stopped rising after “Melania”, the wife of President “Trump”, announced the launch of her digital coin with a meme theme as well, which affected her husband’s coin!

The value of the “Trump” coin fell from $ 72 to less than $ 39 within hours on Sunday, which led to the loss of $ 6 billion in market value, according to CoinGecko data, to stabilize and rebound at the time of publication above the $ 50 level.

The “MELANIA” coin was revealed on platforms such as Truth Social and X, and the announcement was accompanied by a retweet from “Trump”, which gave the impression of the legitimacy of the currency project.

However, the launch of MELANIA has been widely criticized, with data from Bubblemaps showing that 89% of the initial supply was owned by a single wallet, prompting accusations of a lack of transparency.

Blockchain experts have pointed out that the Trump and MELANIA projects were developed by separate teams without any coordination.

Coinbase’s Connor Grogan said that the wallet that launched MELANIA lacked professionalism.

Meanwhile, blockchain engineer Cygaar described the project as a scam, citing poor website design and lack of security measures compared to Trump’s coin.

The launch has angered the cryptocurrency community, with some calling for tighter regulations, with some calling for SEC Chairman Gary Gensler to return to the agency and tougher regulations on such behavior, even if it comes from the US president.

Posted using Tribaldex Blog